10 Aug 2017
Billionaires: Losing money
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
This is not a good result for James Packer, although it would still be amazing to have him as a client.
The learning from this piece is to use it as an example of how even billionaires can lose money when investing.
Consider, James Packer estimated wealth has fallen from $7.19 billion to $4.75 billion over the past 3 years which represents 33.9% decline in his balance sheet.
For anyone of us to lose one third of our balance sheet would be a catastrophe but this billionaire even with all his expert advisers that are paid in the millions of dollars still managed to destroy $2,440,000,000 over the last three years. That takes some doing.
The lesson, diversify to manage and limit your risk.
Click to read.
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